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Hi I need to write off some fixed assets. I think the journal will be:
dr accumulated depreciation - computer equipment £6319
cr original cost - computer equipment £7123
dr loss on disposal - computer equipment £804
Is that correct?
I'm ok with the first 2 lines of the journal but don't know how to create the account for "loss on disposal"
Can anyone help with this please?
Hi kline, thanks for your post - this falls outside the scope of what we're able to support with on the Community, and we'd recommend reaching out to your bookkeeper/accountant for advise on this. If you don't already have any accountant, you can find a QuickBooks certified advisor here. Alternately, we welcome responses from any professionals below who're able to offer their own input. :)
Hi Georgia,
Thank you. I just needed help with creating the account in Quickbooks. I wasnt sure which type of account to choose. I've gone for other expenses
Hello Kline, thanks for coming back to us, we would advise you confirm this with an accountant to see if it is the correct choice to select.
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